Trump says Aug. 1 tariff deadline ‘not 100 percent firm'
Trump spoke to reporters hours after he issued letters to roughly a dozen countries informing them that they would face tariff rates of 25 percent and higher beginning Aug. 1. That deadline was delayed from July 9.
'Is the Aug. 1 deadline firm now? Is that it?' a reporter asked Trump during a dinner with Israeli Prime Minister Benjamin Netanyahu at the White House.
'No, I would say firm, but not 100 percent firm,' Trump replied. 'If they call up and they say we'd like to do something a different way, we're going to be open to that. But essentially that's the way it is right now.'
Trump earlier Monday announced his administration would impose a 25 percent tariff on Japan and South Korea, two of the United States' largest trading partners. He also announced tariff rates that will go into effect next month on goods from Indonesia (32 percent), Bangladesh (35 percent), South Africa (30 percent), Malaysia (25 percent) and a handful of other countries.
The White House has indicated Trump will announce additional letters in the days to come.
The timing and severity of tariffs on other nations has been a shifting target since Trump took office, after vowing on the campaign trail to aggressively impose duties on imports. He has reportedly threatened tariffs on other nations, only to back off or delay their imposition.
The president on April 2 announced 'reciprocal' tariffs on dozens of other countries, using trade deficits to help calculate the tariff rate. But a week later, he lowered those rates to 10 percent for 90 days as markets reacted negatively, giving time for negotiations. The 90-day window is set to expire Wednesday.
'We've talked to most of the countries and pretty much they've had their way for many, many decades as you know, and it was time we just wanted fairness,' Trump said Monday.
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